Longevity risk management in Singapore's national pension system

• Main Authors: Fong, Joelle H. Y., Mitchell, Olivia S., KOH, Benedict S. K.
• Format: text
• Language: English
• Published: Institutional Knowledge at Singapore Management University 2011
• Subjects: Central Provident Fund; mandate; retirement assets; annuitization; Finance and Financial Management
• Online Access: https://ink.library.smu.edu.sg/lkcsb_research/3201; https://ink.library.smu.edu.sg/context/lkcsb_research/article/4200/viewcontent/SSRN_id1678079.pdf
• Institution: Singapore Management University

Although annuities are a theoretically appealing way to manage longevity risk, in the real world relatively few consumers purchase them at retirement. To counteract the possibility of retirees outliving their assets, Singapore’s Central Provident Fund, a national defined contribution pension scheme,...